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Intangible Assets
 12 Months Ended
Dec. 31, 2013
Intangible Assets

9. Intangible Assets

A summary of intangible assets follows:

 

 

(Stated in millions)

 

 

 

 

 

2013

 

  

2012

 

 

Gross
Book Value

 

  

Accumulated
Amortization

 

  

Net Book
Value

 

  

Gross
Book Value

 

  

Accumulated
Amortization

 

  

Net Book
Value

 

Technology/Technical Know-How

$

1,960

  

  

$

597

  

  

$

1,363

  

  

$

1,967

  

  

$

474

  

  

$

1,493

  

Tradenames

 

1,647

  

  

 

257

  

  

 

1,390

  

  

 

1,647

  

  

 

188

  

  

 

1,459

  

Customer Relationships

 

2,263

  

  

 

407

  

  

 

1,856

  

  

 

2,115

  

  

 

312

  

  

 

1,803

  

Other

 

435

  

  

 

335

  

  

 

100

  

  

 

369

  

  

 

322

  

  

 

47

  

 

$

6,305

  

  

$

1,596

  

  

$

4,709

  

  

$

6,098

  

  

$

1,296

  

  

$

4,802

  

Amortization expense was $330 million in 2013, $331 million in 2012 and $324 million in 2011.

The weighted average amortization period for all intangible assets is 20 years.

Amortization expense for the subsequent five years is estimated to be as follows: 2014: $357 million, 2015: $350 million, 2016: $334 million, 2017: $314 million and 2018: $307 million.